DTLLS Applying theories and principles Essay

1. Throughout the years broad examination has been directed by numerous individuals by Psychologists and Scientists who looked to recognize the manners by which we learn. Subsequently a few speculations have gotten recorded each with alternate points of view the primary ones being behaviorism, neo-behaviorism, constructivism and humanism yet there are some who have an alternate view on these hypotheses. Minton (2002) distinguished that â€Å"the history of instruction is covered with bombed hypotheses even those that were the aftereffect of forever and a day of research† (pg213). What is normal among all the hypotheses introduced is that learning happens in stages, in various pace and time and in various manners. The point of this paper is to break down a portion of the variables which can influence learning and accomplishment and how these hypotheses can be applied to comprehensive learning. 1.1 Analyze the variables that can influence learning and accomplishment. There are numerous elements that influence the learning and accomplishments of understudies. These variables might be viewed as an obstruction to certain people however similar elements can likewise be a wellspring of motivation and inspiration. Inspiration and motivation may originate from anybody inside the earth in which they consequently factors influencing learning and accomplishment can either be close to home or outside. Guardians impact children’s vocations decisions both deliberately and unexpectedly. Likewise understudies might be similarly as propelled by good examples and friends outside of the home. Outer variables influencing learning and accomplishment can be take a gander at from a wide range of edges. In the event that understudies live in a zone where there is a high pace of wrongdoing or are issues of packs and against social conduct then this can cause passionate and mental aggravation and unsettlement which can influence students’ capacity to concentrate on learning and accomplishment. Outside variables can likewise be reached out to incorporate neediness and hardship as this can restrain people to learning openings. Contingent upon the postcodes in which understudy experience this again can likewise be a critical factor with regards to whether the degree of learning and accomplishment can be accomplished particularly now and again where the instructive foundations might not have the degree of assets or offices, or having reasonably prepared instructors to educate understudies. The family condition and foundation are likewise key components which can affectâ lear ning and accomplishment which can be seen from various points. Most importantly the family structure and backing of one or the two guardians of an understudy at home can be immensely compelling element. As indicated by the Office of National Statistics distribution discharged on October 31, 2013 there are about 1.9 million solitary guardians with subordinate. The single parent good cause Gingerbread, report this figure to be as high as 3 million youngsters living in a solitary parent family and 43 percent of single guardians are social lodging occupants (gingerbread.org.uk). There can be next to no uncertainty that there is a connection between the family and family structure and its impact on learning and accomplishments for understudies yet as recently referenced for some this might be an obstruction to a few yet for other people, it very well may be a wellspring of inspiration and motivation. Exploration proposes â€Å"children unblemished families will in general have a more prominent scholastic accomplishment and instructive fulfillment an d are less inclined to show social issues at school. Their folks will in general be increasingly engaged with their school exercises and have better standard for them. It was additionally expressed that people from flawless families finished on normal more long periods of tutoring and were bound to move on from High School, go to College and complete school contrasted with peers brought up in mixed or single parent families.† (Family Facts.Org). Different factors additionally incorporate those youngsters who are under the consideration of the nearby in child care or cultivate homes or the individuals who have been detracted from their introduction to the world guardians. A high level of these kids may have experienced maltreatment and disregard which can influence their social and mental prosperity just as their discernment and regard. The significance and significance of this can't not be over accentuated. It has been very much archived that how one sees themselves, their certainty and regard can impact their instruction accompl ishment just like their capacities to successfully speak with others. Individual elements may incorporate an incapacity or learning troubles, for example, dyslexia or nonexclusive legacy. Learning troubles could be a particular trouble in at least one zones of improvement especially if needs are not surveyed and being arrangements made to provide food for. Understudies with dyslexia may display a few propensities like moderate perusing or composing speed, inclination to misread or having a short fixation range and that's only the tip of the iceberg. Student’s response to dyslexia might be shifted as they may get disappointed and aggravated by the impacts anyway may beâ minimised if the issue is distinguished rapidly in the underlying evaluation stage with the goal that it is remembered for the arranging of exercises. It is fundamental for Teachers to have the option to distinguish the indications of dyslexia as some of the time the understudies themselves may not generally know about this issue. In spite of the fact that it might be an obstruction for some numerous understudies have profited by some great help from the two Teachers and Institutions. The impact of dyslexia makes obstructions understudies gaining and advancement from an instructive viewpoint as well as can likewise influence their social prosperity as they may experience issues arranging work and different parts of their lives. This might be especially valid for full grown understudies, some of whom will have had negative encounters of training prior throughout everyday life and may encounter progressively negative feelings, for example, stress, tension and low confidence. They may experience issues in performing multiple tasks, troubles in trucking out guidance or may get lost effectively, or may stir up dates for significant arrangements or gatherings. Other individual factors additionally incorporate issues relating to physical and mental wellbeing. For instance understudies who are hyperactive will in gene ral discover focus troublesome which may likewise be a hindrance to their own learning and advancement as well as that of different students. 1.2 Explain how hypotheses and standards of learning and correspondence can be applied to empower comprehensive learning and educating. As encouraging experts it is important that an adaptable and liberal way to deal with instructing be grasped and received for figuring out how to be accomplished. In addition to the fact that we need to be adaptable with our instructing styles need to apply a similar standard in conveying exercises and making a reasonable domain for accomplishments to be gotten. This is fundamental since understudies learn in various manners and structures. The vark learning styles hypothesis depended on research which was attempted by Neil Flemming in 1987 and is one of the more mainstream apparatuses used to recognize how understudies learn and are described as being either sound, visual or kinaesthetic student. Sound-related students learn best by hearing data and are typically acceptable at recalling information disclosed which a very helpful part in the correspo ndence procedure is. Visual students learn best through the composed word and assimilate data by perusing data by understanding books or taking notes. A few exercises may expect understudies to work in bunches where they can cooperate withâ their friends and communicate and a few exercises may likewise expect them to take a shot at their own. This has been hypothesized by Vygotsky’s zone of proximal turn of events. The rule of this hypothesis depends on the conviction that what understudies realize with the assistance of others surpasses what they can realize all alone and features the equals between these significant elements of gathering work and its advantages in understudies gaining from one another where the solid backings the feeble. One could contend this would make a reasonable learning condition where all understudies grow new abilities as through this consideration and collaboration of friends it was conceivable to teach the individuals who are supposed uneducable. On the other hand there might be some who could then contend that the hypothesis may not be as valuable to certain understudies and may in actuality be keeping down their turn of events. Conversely the Piaget hypothesis recommend that improvement precedes learning and subsequently since we were totally brought into the world with the capacity to get the hang of, learning could be progressively troublesome later except if there is next to zero presentation to the reasonable taking in condition since early on. Piaget further recommends that learning must hold up until understudies are prepared. Vygotsky contended, â€Å"Learning is a vital and general part of the way toward growing socially composed, explicitly human mental capacity, as such, social learning will in general go before development† (SS). I decipher this announcement imply that Vygotsky was of the view that training is an individual procedure and everybody learns at their own rate, when they are prepared to learn, paying little heed to age. 3.1 Analyze manners by which least center components can be exhibited in applying hypotheses and standards for arranging and empowering comprehensive learning and training The base center components are considered as one of the fundamental aptitudes and information required in having the option to convey viable exercises as a Teacher regardless of the territory of specialism. Having the information, understanding and individual aptitudes in English, Numeracy and ICT gives us the stage to be capable show and exhibit speculations and standards to encourage their learning. â€Å"Improving these abilities will empower you to adequately satisfy your job as an expert educator, it’s about having the option to build up these aptitudes in your students† (Ann Gravels). For certain Teachers it might be important to go to classes to get their center components up to the necessary standard through boost cours

Student Protest :: Student Smoking

For quite a long time it has been a hotly debated issue. What would students be able to do and what can they not do? What is viewed as going to far? For some, this is an inquiry that has no obvious and lawful answer. To numerous understudies, that is. Truth be told I happen to be one of the many. Presently it would not be right for me to compose this paper and not put in my â€Å"two sense†. As I would see it this understudy fight bologna has no restriction. Understudies ought not be confined to what they may or may not be able to. They like every other person are American residents and ought not have their privileges as American residents took from them when they enter a structure showing them all the rights they have. To me that is the exceptionally fraudulent. To show a certain something, and practice another! I mean please doesn’t that come a cross as in excess of a tiny bit wrong. There are various legal disputes that spread the matter of understudy fight. Like in every case however I decide not to follow the standard, maybe. I would much rather take you out traveling through my brain and my assessments. With respect to understudy fight I am supportive of it. I would take it to the most elevated degree on the off chance that it needs to go that far. I consider school to be a spot to come and mingle. The stuff that is educated is all exhausting to me. It generally appears as though I definitely realize what will be said. So what is the point? To proceed to get a confirmation that truth be told is only a bit of paper that could without much of a stretch be made by me. Maybe that is the reason I get myself in a difficult situation here. I am by all account not the only one understudies simply get exhausted and attempt to uplift the learning experience. Attempt to make it progressively a good time for everybody. Despite the fact that there might be the individuals who don’t very appreciate what is happening, they despite everything appreciate the chuckling. Who knows perhaps they even take in some things from the understudy that the clearly increasingly shrewd instructor couldnâ⠂¬â„¢t get them to comprehend. I am not saying that the understudy is more brilliant than the instructor yet sometimes the shouting and shouting of an educator to get past can be subbed by the unobtrusive mockery of the understudy.

The Definitive Guide to Fama-French Three-Factor Model

The Definitive Guide to Fama-French Three-Factor Model If youre an investor, financial analyst or a financial manager, by now, youve definitely heard of the Fama-French three-factor model.But just because you heard about it, doesnt mean that you understand it, what its used for and how to use it yourself.And that is why were here!In short, this model describes stock returns, which is one of the most important factors investors take into consideration when choosing which project, product or company is worth their time and money.But, I’m not going to lie; the Fama-French model is a tricky business.So, today, we will cover everything you need to know, including:What is the Fama-French three-factor model?Why is it so important?How was it created?How is it calculated?What is it used for?What other types of models exist?We will cover all the details and yet explain everything as simple as possible.Turn off the WIFI on your phone, grab a cup of coffee, grab a pen and paper and prepare to learn!Buckle up!THE IMPORTANCE OF PAYING ATTENTION TO S TOCK RETURNSSince the Fama-French three-factor model is one of the most known tools to describe stock returns, first, we will shortly cover why this subject is important.You probably know from the movies that many investors out there focus on prices of stocks that are changing over time. They compare the movement of the prices from time to time.However, this is a common mistake, and heres why.Stocks usually pay out in dividends distribution of reward that is a part of the companies’ earnings to their respective shareholders.They are managed by the companies’ board of directors and can be issued as stock, shares, cash or in other ways, while cash dividends are the most common option.Funds, as well as companies, are often known for paying out dividends to their trusted shareholders.To get a clear picture of how stocks perform over a period of time, we should take into consideration capital gains as well as dividends.This is very useful when it comes to evaluating stocks and compa ring investment results when stocks are held for different periods of time.WHAT WAS THERE BEFORE THE FAMA-FRENCH THREE-FACTOR MODEL?This model is actually an extension to a model which existed before the CAPM (Capital Asset Pricing Model).CAPM is a one-factor model, and it explains the portfolios returns with the amount of risk it contains, according to the market.Basically, CAPM explains portfolio performance primarily using the performance of the market as a whole.The Capital Asset Pricing ModelCAPM describes the relationship between expected return in stocks and systematic risk.This is the first model of this kind. It is widely known and used for pricing risky securities and generating expected returns for assets, based on the risk and cost of capital.The following formula is used to calculate it:ERi  = Rf  + ßi*(ERm   Rf)where:ERi= Expected return of investmentRf= Risk-free rate (time value of money)ßi= Beta of the investment (a measure of risk)ERm= Expected return of the mar ket(ERm Rf) = Market risk premiumLogically, investors want to have compensation for the risk and the time value of money, which is represented by the risk-free rate.The other parts of the equation are there to address all additional risks the investor is facing.The beta of the investment measures the amount of risk the investment adds to the portfolio which resembles the market.If the Beta is greater than one, the stock is riskier than the market itself.If the Beta is equal to less than one, the formula will assume that the risk of a portfolio will be reduced.The Market risk premium is the return expected from the market. The stocks Beta is multiplied by the Market risk premium, and the result gives the manager or investor a required return which can be later used to figure out the value of the asset.So, whats the main point?The main goal of the CAPM formula is to determine if the stock is valued as it should be.The question CAPM answers is: is the value of the stock good when its e xpected return is compared to the risk and time value of money?Disadvantages of CAPMCAPM has been proven not to be so reliable in practice.None the less, it is still widely used because of its simplicity. It is still one of the easiest tools to compare alternatives when investing.But, one of the problems that this model has is that, when we include the Beta in the formula, we are assuming that the risk can be completely measured by a stocks price volatility. But, moving the price in two different directions is not equally risky.CAPM also assumes that the Risk-free rate stays the same during the period of discounting.In real life, holding periods last for more than 10 years, so its highly unlikely that this rate stays the same for that entire period.When the Risk-free rate is increased, the stock can end up being overvalued because the cost of capital has increased as well.Finally, the biggest concern regarding CAPM is that future cash flows can be estimated for the process of discou nting.If this was the case, an investor or a manager could estimate the stock return value precisely, and then there would be no need for CAPM at all.Unfortunately, CAPM wasnt flexible enough it used only one variable to describe stock returns. It also didnt take into consideration situations with outperformance.CREATION OF THE FAMA-FRENCH THREE-FACTOR MODELSo, professors Fama and French created a new one, with two extra risk factors.Therefore, making it a better tool for performance evaluation.To the original factor, which is the market risk factor, two more were added.These two (SMB and HML) were added because of their consistent contribution to portfolio performance.Nowadays, it is very popular as a measurement for portfolio performance and for predicting future stock returns.Even today, there is a lot of debate about the outperformance tendency:Does it happen because of market efficiency?Or does it happen because of market inefficiency?To support the first theory, it is stated that outperformance happens because of the excess risk which value stocks and small-cap stocks.This excess risk is the result of a higher cost of capital and greater business risk.Supporters of the second statement explain the outperformance with incorrect pricing of the value of companies by market participants. Long-term, with value adjusts, this leads to the excess return.WHAT IS THE FAMA-FRENCH THREE-FACTOR MODEL?This is the way of thinking on which the Fama-French model is based on:Small-cap high-value companies usually do better than the overall marketHigher investments usually lead to bigger and better returnsValue companies outperform growth companiesProfessors Eugene Fama and Kenneth French, who were professors at the University of Chicago Booth School of Business, designed this model back in the 1990s to describe stock returns in portfolio management and asset pricing.The Fama-French three-factor model (in future uses the Fama-French model) pays attention to three major f actors:Market riskCompany size Outperformance of small vs big companiesValue factors Outperformance of high book/market vs small book/market companiesOne of the scientists, Eugene Fama, shared the Nobel Memorial Prize in Economic Sciences. This shows just how appreciated this professor is in the field of economics and how valued his work is.His contribution to the Fama-French model led to it being widely used by investors and financial managers today to help with making important decisions.This model is basically the result of an econometric regression of historical stock prices.Its based on the assumption that the riskier environment, the higher the compensation should be, which should lead to bigger earnings potential.An interesting fact is that the model was originally designed for just 4 countries:CanadaUnited States of AmericaUnited KingdomJapanOf course, local factors lead to better results and conclusion than global factors, because they better explain the variation of time series in stock returns.So, with a few adjustments and with updated risk factors, the model also became useful for Asia, Europe and other regions.FORMULAAll of this seems rational, but how do I put it to use?Well, when we talk about the Fama-French model, in order to describe stock returns, our final goal is to calculate the portfolios expected rate of return.This is done with the following formula:Portfolios Expected Rate of Return = Risk-free Rate + Market Risk Premium + SMB + HMLor:r  = rf + ß1*(rm  â€" rf) + ß2*(SMB) + ß3*(HML) + ?  where:r  = Portfolios Expected Rate of Returnrf  = Riskfree Return Rateß1,2,3  = Factor’s Coefficient originally there was just 1, now there are 3 of them. This is the main innovation in the Fama-French model.(rm  â€" rf)  =  Market Risk PremiumSMB(Small Minus Big)  = Historic excess returns of small-cap companies over large-cap companiesHML(High Minus Low)  = Historic excess returns of value stocks* over growth stocks**?= Risk*Value stocks a re stocks which have a high book to price ratio**Growth stock are stocks which have a low book to price ratioThe historic excess values can be found for free on Kenneth Frenchs website.March 2019Last 3 MonthsLast 12 MonthsFama/French 3 Research FactorsRm-Rf SMB HML1.10 -3.15 -4.0813.38 1.73 -8.366.43 -3.57 -15.44Fama/French 5 Research Factors (23)Rm-Rf SMB HML RMW CMA1.10 -3.56 -4.08 0.91 -1.0113.38 1.02 -8.36 0.55 -4.256.43 -5.81 -15.44 -0.58 -0.20Fama/French Research PortfoliosSize and Book-to-Market PortfoliosSmall Value Small Neutral Small GrowthBig Value Big Neutral Big Growth-4.34 -2.87 -0.63-1.62 0.42 2.829.86 12.77 19.378.41 12.77 15.62-3.75 0.70 8.70-4.64 7.20 13.80Size and Operating Profitability PortfoliosSmall Robust Small Neutral Small WeakBig Robust Big Neutral Big Weak-2.81 -3.83 -1.392.64 0.92 -0.6014.79 11.67 15.8814.59 13.39 12.40-5.90 1.16 5.4813.18 5.80 2.96Size and Investment PortfoliosSmall Conservative Small Neutral Small AggressiveBig Conservative Big Neutral Big Aggressive-1.84 -3.30 -2.310.71 0.27 3.2013.74 11.19 17.1811.08 12.89 16.133.60 1.96 0.678.78 5.77 12.11Calculation of the Fama-French three-factor model is commonly done in software programs capable of handling big data. Excel is one of the most popular ones out there. Remember, this is a three-factor model. To best explain it further, lets look at each factor one by one.1. Market Risk PremiumWhat does this part of the formula mean?(rm  â€" rf)The market risk premium basically represents the difference between the expected return of the market and the risk-free return rate. It gives the investor returns above the risk-free rate.2. Small minus big market capitalization (SMB)This factor is commonly known as the small firm effect. or the size effect, where size is determined by the companys market capitalization. It represents a historic excess of small-cap companies over large-cap companies.A side effect which is based on the market capitalization of a company is SMB. Its factor s coefficient is calculated via linear regression, and it can have negative and positive values.Again, the logic behind the Fama-French model is that higher returns come from small-cap companies, rather than large-cap companies.3. High minus low book-to-market ratios (HML)HML is used to show the spread in returns between companies which have high and companies which have a low book to market ratios (value companies and growth companies).Its factors coefficient is also calculated using linear regression, and it can have a negative as well as a positive value.This third factor shows that in the long run, growth companies have lower returns than value companies. This is why they are at the second place in the formula.The HML factor is used to evaluate profit margins, short-term and long-term. It states the anticipated performance of security in the future. In the formula high minus low, we calculate the associated range.Using HML we can see if a manager is relying on the value premium to earn an abnormal return, by investing in stocks with high book-to-market ratios.If this is the case, then a positive relation to the HML factor is shown.This explains why the portfolios returns are accredited only to the value premium. The original excess of the manager will decrease because the model is able to explain more of the portfolios return.Its not officially stated by the creators, Fama and French, why book-to-price ratios measure risk.However, there are theories that have been mentioned. If a stock has a high book-to-price ratio, it could mean that the stock is distressed.This means that its not likely for future earnings to happen and that is the reason why the stock is selling low.It could also mean that the stock capital is intensive. Intensive stock capital happens when stocks are more vulnerable to low earnings during slow times in economics.What would happen if a firm which isnt capital intensive were to become distressed?This is one of the questions these theori es do not answer. They both make sense, but when you think about them, they explain completely different situations.There is a third theory which states that the broad market index weighs stocks in accordance to the market capitalization. This makes it biased to size and blind for valuation.This leads to thinking that the added two factors in this model are just a couple of tweaks, which address these problems.This is the reason why momentum was added as another factor, to show where capitalization has been putting their money lately, instead of showing where it has been put for years, like the market capitalization factor shows.Momentum was later added as a factor to a different version of the Fama-French model, but we will cover more on that later in the article.USES OF THE MODELAll of this is fine to me, but how do I put in practice what Ive learned here?Well, weve established that when we look long-term, small companies have a tendency to outperform large companies. Also, value companies do better than growth ones.Fama and French studied the model further and found that it can explain the majority of diversified portfolio returns.It explains a whole 90% of it to be exact, where the original CAPM described just 70% of diversified portfolio returns. Source: corporatefinanceinstitute.comIm an investor, how do I use this model?Fama and French insist that investors must be ready to handle extra periodic underperformance and short-term volatility that can happen in a short period of time.To put it bluntly if you are investing for 10 or more years, you will be rewarded in the long run for your periodic losses in the short run.When you combine size and value factors with their beta factors, they explain about 90% of the return in your diversified stock portfolio.This was proven when Fama and French ran their studies with thousands of random stock portfolio to test their model.With this model, you as an investor can construct a portfolio where you can see the average expected return, all according to the relative risks youve assumed.The main factors which drive the expected returns are:market sensitivitysize sensitivityvalue stocks sensitivity, measured by the book to market ratioIf any additional average expected return occurs, it is attributed to unsystematic or unpriced risk.Using the model, it is possible to separate the skill of the investor from the higher returns.If the three factors can completely explain the portfolios performance, what is the manager doing?The high returns didnt happen because of his or her abilities or skills.Well, the manager should contribute to good performance by picking good stocks. Unfortunately, there isnt a formula yet which makes decisions for you perfectly. Making good decisions is still a skill only people possess.A lot of studies in emerging markets were conducted to see how the model would handle in that territory.The High Minus Low book-to-market ratio still explains everything it should very well.Unfortunately, the same cant be said for the market value of equity factor. This is why a fresh three-factor model was introduced by Foye, Mramor and Pahor in 2013.They replaced the market value of equity factor with a more useable one.DIFFERENT FAMA-FRENCH MODELSThe Fama-Frenc h model has gone through changes over time. Now, there are also the four-factor and the five-factor versions of the model, which require more information to calculate but give more detailed results.1. The Four-Factor modelThis is an extension to the regular three-factor model, created by Mark Carhart. It adds the momentum factor for asset pricing of stock, commonly also known as the MOM factor (monthly momentum).What does momentum mean?Momentum in a stock is when the stock price is rising, and it has a tendency to keep rising. Same goes for the other way around if the stock price is declining, momentum means it will keep going down.Monthly momentum is the difference between the equal weighted average of the lowest performing companies and the equal-weighted average of the highest performing ones, lagging one month.If a stocks average of returns for the past 12 months is positive, we say that the stock is showing momentum.The four-factor model is actively used as a model for managem ent and mutual fund evaluation.Momentum strategies are still very much used in financial markets where financial analysts give buy or sell recommendations based on the yearly price high/low.2. The Five-Factor modelBack in 2014, two more factors were added to the original Fama-French model profitability and investment.The first being a simple difference between the returns of companies with high and low operating profitability, while the investment factor is the difference between the returns of companies which invest conservatively and those which invest aggressively.The fourth factor, profitability, suggests that firms which report higher earnings in the future have higher returns in the stock market.Investment is the fifth factor, and it is closely related to the concept of internal investments and returns. It suggests that companies which direct their profit to big growth projects are more likely to experience losses in the stock market.It is found that the CAPM and the three-fa ctor models, in some cases, dont explain properly cross-sectional variations in portfolio returns.In cases like these, the five-factor model is a much better choice for a tool for evaluation.KEY TAKEAWAYSThe three factors are market risk, company size (SMB) and value factors (HML).The Fama-French model is an extension to the one-factor Capital Asset Pricing Model (CAPM). A new model was created because CAPM isnt flexible and doesnt take into consideration overperformance.Value companies do better on the market than the growing companies.The bigger and riskier the investment, the higher the payoff should be.Local factors explain better than global factors the variations in time series in stock returns.We use the Fama-French model to calculate the Portfolios Expected Rate of Return.No matter how precisely this model describes the stock returns, it is up to the managers or investors to choose where it would be good to invest.The four-factor model adds the momentum factor, which describ es where the value of the stock will be based on the value trends.The five-factor model takes into consideration two extra factors profitability and investment.FINAL THOUGHTSAnalyzing the past is useful to learn from those experiences and drive conclusions from them.However, investing in the future is even more important.By investing we are giving up short-term gains in the hopes of gaining long-term gains.That hope can be slim, and it can also be very big and reliable.By calculating our risks and making our decisions based on the calculations, we improve our chances of gaining.Every day, decisions for the companys future are made by the investors and the companys management.Should we do this new project?Should we invest in this other company?Should we invest in this?All of these questions are hard to answer. The right investment will lead to a positive outcome for the company, while the wrong decision will lead to failure.The pressure to make this kind of decision is huge.Luckily, there are some tools that help us make the right decision.The Fama-French three-factor model is one of the well-known tools, managers and financial experts or analysts use to calculate whether an investment is worth the time and the money or not. It takes into consideration three factors which best describe the stock return value.Before you go on to decide your next big investment move, be sure to use this tool to up your chances of success.Hopefully, with this article, youve understood all the ins and outs of the Fama-French model, and you are now ready to use it!We hope that by next time we see each other, youll have already seen the payoff of your smart investments! Remember good luck favors well-calculated risks!

The Nclb Act Is The Largest Intervention By The Federal...

The NCLB Act has become the largest intervention by the federal government. This act promises to improve student learning and to close the achievement gap between the white students and students of color. The law is aimed at having standardized test to measure student performance and quality of teacher. The Standardized exams are fully focused on reading and mathematics. This law characterizes an unequalled extension of the federal role into the realm of local educational accountability. High school graduation rates are also a requirement as an indicator of performance at secondary level. In low performing schools they get punished by receiving less funds and students have the choice to move to high performing school. The quality of our†¦show more content†¦This program is all about testing where even teachers are getting affected by the test results. Administrators and educators are being affected by the numbers that are being appeared in the test results. The policy state s that there will be more funding’s for schools when in the past year’s public schools have been struggling on keeping after school programs. There was cut downs made in public schools because of lack of funds. Programs that were affected were various types of tutoring, homework clubs, and so forth. Parents have been concerned on the unfairness of this policy when dealing with students with disability and those who English is their second language. The No Child Left Behind Act rewards schools when they have made the greatest progress in improving the achievement of disadvantaged students and if so they will be rewarded with the NCLB bonuses. This act also incorporates consequences for those who have failed to meet the regulations. The secretary of education will have permission to reduce federal funds available to states for administrative expenses if the state fails to meet their performance objectives and demonstrate results in academic achievement. Since the begin ning of the school year of 2003-2004 at least twenty states and a number of school districts have officially protested the NCLB Act, voting to withdraw from participation, to withhold local

Marketing Plan For A Business Plan - 1266 Words

â€Å"Matilda Coconut hair products aims to provide high quality hair care products that enhance the beautiful, health and shine hair and positively contribute to the environment by using natural ingredients found in coconut oil. We pride ourselves on providing a high quality product that carters to our customers’ hair management care and enables them to grow health hair.† 2) Next, create an outline for a business plan by answering the following â€Å"nine questions every business plan should answer†: 1. Who is the customer? The customer is the party that will receives or consumes my products and has the ability to choose between different products and suppliers. The customers for my products would the working moms, housewives and dads in my local area. I would like to start by selling and marketing my product to them firms because I know how I can reach them. I would also call them my target customers because I have a clear strategy and know channels to use to reach them. To be able to know my customers needs and met their needs I would have to perform a customer analysis to define exactly which customers I need serving. 2. How does the customer make decisions about buying this product or service? It is good to able to examine how the customer makes decisions about which product to buy after evaluating the different solutions and products available for respond to his/her need, he/she will be able to choose the product or brand that seems most appropriate to his needs.. One has toShow MoreRelatedThe Marketing Plan For The Business Plan858 Words   |  4 Pagesimportant to protect it and continue the development and positioning it in the market. Therefore, there are numerous models of communication plans, the firm should use the one they find appropriate for them. In essence communications plans have several disciplines that interrelated and in synergy would support the business plan can create an effective communication plan with results potentially beneficial to the positioning of the brand. These disciplines are: advertising, paid search, social media, customerRead MoreMarketing Plan For A Business Plan1241 Words   |  5 Pages Marketing Plan As I navigated my way through the business plan provided to me by ChopSaver, I saw that they had a clear and concise marketing plan. Currently ChopSaver is sold online and in over 9,000 U.S. retailers, including over 7,000 CVS Pharmacy locations nationwide. When asked how they market their product, ChopSaver replied, â€Å"As a brand with a unique and authentic story behind it, we utilize both social media and public relations to tell the story. The musical part of the brand lends itselfRead MoreMarketing Plan For A Business Plan1159 Words   |  5 PagesFirst Things First: Before you start tutoring, it s important to create a business plan, determine your company’s specialization and create a company image that sets you apart from the competition and attracts your target market. Draw up a Business Plan and Name Your Business: Name your tutorial business if you have not already done so. Brainstorm a list of names with the help of friends, family members and business partners. Choose a name that stands out and communicates your business’s uniqueRead MoreMarketing Plan For A Business Plan1445 Words   |  6 PagesMarketing plan is very important and pretty much to the overall financial and business plan. This plan is the way to success, and it is breaks down into two components that will enable The Sub Shop to perform marketing activities to provide a solid return on investment. Plan is designed to complete the business plan, but is also a way for company officers to get a handle on the external and internal factors that will influence the company s success in the Ashland market. The following topicsRead MoreMarketing Plan For A Business Plan1268 Words   |  6 Pagesare invested in making this a business not creating a hobby business for the sake of brewing beer. Therefore, a written business plan is in existence. A written business plan would have been required to secure the government loan. ï‚ · A business plan should be a working document, not created and then placed in a drawer. It should remain on the desk as a reminder of the objectives and goals set forth initially and revised as the business grows and adapts. Every business owner has a goal of profitabilityRead MoreMarketing Plan For A Business Plan792 Words   |  4 PagesMarketing Plan A well-developed marketing plan will provide many benefits. For example, it will help Priority attract clients, keep marketing efforts aligned with the organizations mission and goals, and enable leaders to effectively evaluate the market environment in which they plan to operate. Since Priority is attempting to enter a new market, their marketing plan should emphasize strategies that will enable them to build their client base and gain market share. Additionally, Priority expectsRead MoreMarketing Plan For A Business879 Words   |  4 PagesA marketing plan completely relies on the marketing strategy which have been used in order to create a solid business plan for any corporate. In absence of strategies, it s an impossible to get large use of market plan. In terms of getting incentive benefits from a business, market plan gives a blueprint outlines of marketing efforts which have to be done to raise good business. A market plan is aimed to create incentive pay plans for business employees to satisfy the business corporate objectivesRead MoreMarketing Plan For A Business1200 Words   |  5 PagesGrowing your business can be a daunting task in today’s business and economic conditions. Competition is fierce in almost every trade. To carve out your own niche in a highly competitive market, you need to align your business plan with your marketing plan from the get-go. Customers today are influenced by several elements In addition to running your business, marketing your products or services has now become a full-fledged endeavor that is crucial to the promotion of a business. The promotionalRead MoreMarketing Plan For A Business Plan Competition1715 Words   |  7 PagesReview Research shows that business plan competitions throughout time have always provided a substantial opportunity to improve entrepreneurial education. Student entrepreneurs originally were interested in business plan competitions because it was a place for them to create and pitch their business ideas to real investors and get incredible feedback. However, over time, the location of the competitions, the people competing in the competitions, the robustness of business plans, and the outcome of theRead MoreMarketing Plan For A Business Essay2071 Words   |  9 PagesThe success of any business lies in marketing, both internally and externally. The overall marketing aspect covers advertising, public relations, promotions and sales. Mokhtar Wan-Ismail (2012), citing Panayides definition states marketing is ‘†¦the process of planning and exacting the conception, pricing, promotion and distribution of ideas, goods and services to create exchanges and satisfy organizational objec tives’. Without marketing, a business may offer the best products or service in an industry

How to make a good business Free Essays

Everyone would like to have a good business that would bring him or her a lot of money, a high life position and satisfaction. But how to make it? How should you begin to get round to it? It is hard to answer the question but there are some principles that can help us. First and foremost we must have some capital. We will write a custom essay sample on How to make a good business? or any similar topic only for you Order Now Let’s establish – we need around 50000 zlotys. If we want, we can look for a partner but as for me I would like to do it on my own. So when we have got some money we should invest them. We can for example open a shop. But there are a lot of shops so there is a large competition and we should be aware of it and get ready to it. WE have to think what goods would sell best. Perhaps some second-hand clothes that are so popular recently in Poland? Everything depends on us, our ideas and involvement in the matter. We can also invest in education. Why not? Lots of people think about their future and want to become well-educated in order to find a good job. That is why we can open a foreign language school. To make our potential school attractive, we should think about some interesting solutions that would attract people’s attention. Maybe low prices of courses, a possibility of taking part in interesting discussions during classes etc. We must remember that at the beginning the profit is not the most important. First we ought to encourage people, to make them believe that we are special and unique. We must have well-trained staff, good conditions of work and what is important – high quality of teaching. If not, we will not become successful. A client is our sir! We cannot forget about it. We cannot let him leave us. That is why it is very good to organize competitions or promotions. Happiness, competence and optimism will bring us success and a lot of money. Advertising appeared for the first time in Europe early in the 17th century and Britain was the pioneer. Nowadays we can observe a great development of different means of information transfer. The mass media are connected not only with the show business, entertainment and science but also with trade, the stock exchange and other fields of economics. That is why during TV serials or other broadcasts, in nearly every magazine and newspaper, one can find, read, see or hear hundreds of advertisements. What does the phenomenon of the advertising consist in? First and foremost, it is connected with special techniques for creating adverts, striving for maximum impact on people’s minds by using psychological methods. According to a poster maker Benetton – advertisements do not sell products or ideas but a false and hypnotizing model of happiness. Half-truths rule the world of advertising. It means that commercials and advertisements creators can use metaphors and embellishments while presenting the advantages of their products. But in some countries it is forbidden as for example in France where one cannot use in commercials and advertisements adjectives and adverbs in the superlative degree. But who is able to resist the temptation created by commercials and advertisements? Sometimes it is very hard, as we want to have the best products, to be modern. With enthusiasm we let ourselves be persuaded to follow various fashions and cults. For some time now the fashion for techno music in the Polish advertising industry has been growing more and more intense and it influences young people. Moreover, some people claim that techno music is a very popular youth subculture thanks to which it is easy to win over young people. It is commonly known that one of the most important aims of the advertising industry is to attract people’s attention. That is why most commercials and advertisements feature the young and the beautiful. It contracts with all disasters in the world: war, hunger. To form an opinion on the problem given in the topic, it is worth watching the TV programme by Tomasz Kamel – â€Å"Kup pan cegle†. The programme exposes the mechanisms of advertising and tries to show its true, dual nature. To sum up I would like to say that advertising is both manipulation and a marketing tool. Some psychologists say that advertising can be dangerous, as excessive submission to standards does not always bring favourable effects. And even if it seems to be impossible to avoid the contact with advertisements and commercials we can defend ourselves from its influence by treating it â€Å"with a pinch of salt†. Speech about environment. We approach to welcome twenty-first century. Everyone is happy because world is going to be better. The horrible illnesses and problems of population, poverty and wars started to disappear. World starts to change and everybody think: Yes, maybe tomorrow it will be better. People go to their jobs and they earn money. The most important for them it is to have a good car, big home with swimming pool. Only a few people think what happens with our environment. With trees, with rivers, with woods. Now everyone is busy and not many people see that everything what is round us is going to die. Have you ever asked yourself how environment can be damaged? Do you think about it when you leave the light in your room when you go out? Do you read a note on the packets of some products that you buy in supermarket? I\’m sure that you don\’t. You don\’t want to waste your time so you use deodorant with CFC, you throw the rubbish into the sea and you don\’t mind when all lights at your home are switched on, do you? So, you see that everyone damages environment although he is unaware of it. Now the most important dangers are: sun\’s radiation, devorestation and pollution. Sun\’s radiation are bad, very bad for our skin. If the ozone layer disappeared we would have burns and our skin wouldn\’t be just like before. The burns of sun\’s radiation leave horrible scars and later we could have problems. So the scientists scream: use less electricity, don\’t smoke, use less products with CFC. All these things damage the ozone layer, which protects us from sun\’s radiation. We should use bicycles, we shouldn\’t burn forests, we should throw litter on beaches. We should be \†green\† and protect our planet. We have to use ozone friendly things because holes in the ozone layer might become bigger. Poland is a country where it is a big problem with pollution. Our beaches, sea, rivers and forests are polluted and it looks horrible. People don\’t want to swim or walk there. So I think that we must organise an action called Clean up the world At least for one week we could clean our hausing estates , we could put in more rubbish beens. We might join ecologists and then our planet will be beautiful. Can the problem of crime be solved? There is a lot of crime in our world. We meet it every day. We read about it in newspapers, hear in radio and TV, we watch films full of murders and violence. People murder other people, even children in age 12, even less, become killers. They often do it without any available and reasonable reason. They have strange requirement , they like to see blood and pain on their victim’s face. There are a lot of lawbreaker: arsonists, shoplifters, muggers, vandals, kidnappers, pickpockets, drug dealers, assassin, hooligans, smugglers, forgers, etc. It is dangerous to walk alone at night. We can became a victim of crime. We can meet group of young people with sticks and if we won’t give them money they will beat us. In large cities there are a lot of unemployed people who have no useful work skills , they don’t work, can’t work, don’t pay taxes. There are also alcoholics and drug addicts. Those people steal money or goods to pay for their drugs, alcohol, food. Their crimes cost people a lot. There are also angry young people who destroy property and commit violence. In this time more popular, on the wrong meaning, become terrorism. All world is under impression of assassination on World Trade Center. Everybody knows, who Osama bin Laden is. But there are also many crimes which aren’t public, which haven’t got witnesses. They pass in private houses, flats. We don’t know how many women and children are beaten by husbands and fathers. Those men very often overuse alcohol or do it sobered. Women and kids are frightened and they don’t have courage to go at the police station. Can the problem of crime be solved? I don’t think so. It is long and hard work. We can’t battle violence overnight. I think that criminals should suffer punishment. If they don’t take penalty more people will commit violence. They will think, that they can avoid responsibility. I think that prisons which are only for punishment don’t change criminals into good citizens. They live in bone cells, in a severe regime. When they are released they commit other crimes. The prisoners should cooperate with psychiatrists, group therapy sessions. But it is also hard work. Results depend on a person. If the criminal wants a change, he will do it. But usually they don’t want any changes, because they think, that their â€Å"job† is good. I think that good way of rehabilitation is giving sentences to serve in the community. But not for every prisoner. Some of them, for example the one who murdered another man, shouldn’t take such punishment, because they can once again make many damages. I don’t know what to think about death penalty. On the one hand I support it, because it is a good punishment for someone who committed hard crime. On the other hand we haven’t got a law to kill other people. We hurt their families, we deprive children of fathers or mothers, wives of husbands, parents of children, etc. Huge variety of tourist attactions Thanks to the liberalization of regulations, the elimination of visas, and improved standards, of tourist services, as well as a favourable geographical location and competitive prices, Poland is witnessing promotion in the world ranking of attractive destinations for tourists. It is estimated that the number of foreign tourists to Poland will increase by 3-4% per year. Every year the number of tourists in Poland is growing. Are Polish tourist organisations currently capable of providing suitable conditions and safety for foreign visitors? Our office is doing its best to satisfy the demands and needs of tourists. However it is not always easy as the total number of hotels in Poland is only 844 with 80,000 beds, which in comparison with almost 20 million tourists visiting Poland is a drop in the ocean. However there is more accommodation than the official number reported by the Main Statistics Office (GUS). The majority of these are rooms in private houses. Despite the fact that they do not provide a suitable standard of services, they are the only way to fill the gap in the market. Experts in the tourist market believe that Poland needs about 200 two star hotels, with at least 120 beds each. In connection with the growing number of tourists visiting Poland every year, we have witnessed an increase in the number of places available to house tourists (in 1995 it was 9,345, 199611,075, and 1997 12,000). The biggest increase was the number of hotels, increasing from 686 in 1995 to 844 in 1997. Motels increased from 95 in 1995 to 102 in 1996 up to 120 in 1997. Guest houses increased from 305 in 1995 to 372 in 1996 up to 433 in 1997. Rooms in private houses rose from 1,760 in 1995 to 3,312 in 1996 up to 4,221 in 1997. The number of holiday camps has also increased from 224 in 1995 to 245 in 1996 up to 266 in 1997. As a result in the increase in the tourist market, research was conducted in 1997 to examine the sport and recreational facilities provided with the accommodation. The findings revealed that 3,023 places have volley or basketball courts, 3,012 offer table tennis, 1,411 offer boat hire 1,315 offer billiards, and 1,007 rent bicycles. Nine hundred and fourty nine have play rooms for children, 840 tennis courts, 817 have a sauna and 721 have a gym. A small a number of places provide solariums (318) and ind.oor swimming pools (170) and mini golf (145). From these statistics we can see that tourist facilities in Poland are so diverse that they can satisfy all types of tourists. In the last few years there have been major changes in Polish tourism. What are the directions of these changes and what can foreign visitors expect as a result of them? One of the signs of the transformation in Polish tourism is the new law regulating tourist services, which came into force on July 1st 1998. The purpose of this law is to protect the interests of tourists in line with western standards. Based on this law we are introducing a classification system for places offering tourist accommodation. The law also provides a legal basis for using the terms hotel, motel, guest house, youth hostels, holiday camps, camp sites etc, specifying a definition and requirements for each category. The law also includes penalties for misuse of these names. The new law also regulates the requirements surrounding tourist agencies and intermediaries, to comply with the European Union Directive No. 90/ 314. The Directive emphasizes the obligation of association member states and tourist agencies to insure financial security for its clients. This insurance should. cover all payments by clients and the ability to return tourists home. The law also envisages increasing the skills and qualifications of employees and directors of tourist agencies, hotel employees and tour guides. We very often hear how Poland is slow to adopt West European norms for protecting the environment. Relatively little is said about those many regions in Poland, where large scale pro-ecological projects are underway. How do you, Mr President, view the situation? One of the regions particularly attractive for tourists because it has a great unspoilt variety of wildlife is called â€Å"The Green Lungs of Poland†, located in the north-east of Poland and compromising some 18% of the total area of Poland. It is a re.gion of unprecedented. natural beauty, which is relatively unpolluted. and with great geomorphologic and landscape variety. It is characterized by a great number of fore.sts and farmland, as well as a low level of urbanization and industrialization, and has a low population density. Many protected areas are also located here, such as National Parks, nature reserves, and areas of protected landscape which makes this region particularly important, not just for Poland, but for the whole of Europe. This unique area of nature, its spa qualities and varieties of wildlife and culture make the â€Å"Green Lungs of Poland.† attractive for various forms of tourism, leisure and recreation, and spa centres. This all provides immense potential for both domestic and foreign tourism. The basic concept of â€Å"Green Lungs of Poland† initiated by the members of the Polish Tourist Country Lovers’ Association, was the harmonious and stable social and economic development of the North-east region of Poland. The publicizing of this idea led to the signing of an agreement between regional authorities and has been taken up in government documents. The President of State Sports and Tourism Administration is one of the thirty signatories of this agreement. The administration is interested in the possibilities for tourism in this region and in introducing various forms of tourism that would fit in with the local ecology and the needs of nature. Will foreign visitors find favourable conditions and varied attractions during their holiday in Poland? The World Tourist Organization (WTO) places Poland 7th in the ranking of tourist travel. It is a very good position which makes it possible to satisfy tourist expectations and meet world tourist market trends. Some of these trends include: taking more than one holiday a year, city-break holidays, which are now the second low season type of travel, the increased demand for trips including an educational aspect, and the growing demand for active holidays and agrotourism, particularly by tourists from Western Europe for short stay holidays. Trends in the world tourist market have an influence on the development of tourism in Europe, including Poland. Taking into account the present demand for tourism in Poland on the primary market, as well as the potential resources and possibilities, Poland has concentrated its efforts to create and promote quality in the areas of city and culture tourism, recreational, active and agrotourism, specialized holidays, cross-border tourism as well as for business travel, and transit traffic. Poland has a huge variety of tourist attractions. For nature lovers there is the sea, the mountains, the lakes, national and landscape parks, nature reserves, rivers, forests and numerous spas. Poland also has many historical and cultural attractions which belong to the world heritage of culture. These include ancient ruins, monuments, old towns, castles, palaces, parks, churches and museums. Another feature that makes Poland an attractive destination for tourists is the many international sports and cultural events which even by themselves are very attractive. All these attractions have tremendous potential and make people curious to visit new places. For the sports and specialized holidays which are increasingly popular, Poland offers great facilities for water sports, such as sailing, and canoeing, winter sports (such as cross country skiing as well as mountain skiing), cycling, hiking, climbing, caving, horse riding, etc. Polish traditional hospitality and openness means that Pol and is a friendly country for every visitor and our tourist attractions make Poland a good destination for tourists. Do the favourable changes in Polish tourism create opportunities for foreign investors? If so, in what areas and how are they used? At the moment we have been witnessing the dynamic development of catering, accommodation, and recreational facilities. At the same time almost every Polish gmina and town located in attractive tourist regions has a range of offers for investors to help develop these kinds of facilities and infrastructure. Another area of foreign investment is, for example, the construction of conference centres. East-Central Europe enjoys a lot of interest from people all over the world. That is why many international organizations hold events in Prague or Budapest. Unfortunately Warsaw is less frequently the destination for these events due to a lack of facilities. I earlier mentioned the increase in the number of accommodation and catering facilities in Poland. This is also due to foreign investors, who can see the great demand for such places and realize that Poland is a country with good opportunities for investment. Tourism in the Nation’s Economy The Word Tourist Organisation (WTO) places Poland 7th in the ranking of tourist travel. It is very good position, which make it possible to satisfy tourist expectation and meet world tourist market trends. Some of these trends include: taking more than one holiday a year, the increased demand for trips including an educationally aspect, and growing demand for active holiday and agrotourism, particularly by tourists by Western Europe for short stay holidays. Trends in the word tourist market have an influence on the development of tourist in Europe, including Poland. Taking into account the present demand for tourist in Poland on the primary, as well as the potential resources and possibilities, Poland has concentrated its effort to create and promote quality in the areas of city and culture tourism, recreational, active and agrotourism, specialised holidays, cross-boarder tourism as well as for business travel, and transit traffic. Tourism is one of the fastest growing sectors of ind ustry of Poland. Every year the number of tourists organisation are doing their the best to satisfy the demands and needs of tourists. However is it not always easy, as the total number of hotels in Poland is only 844 with 80000 beds. It is a drop in ocean in comparison with almost 20 million tourists visiting Poland. The rooms in private houses fill the gap in the market. The sport and recreational facilities provided with the accommodation include volley and basketball, tennis courts, playrooms for children. Many places offer table tennis, boat hire. Some of them have sauna, have a gym or hire bicycles. A small a number of places providers solarium and indoor swimming pool and mini golf. We can see that tourist facilities in Poland are so diverse that we can satisfy all types of tourists. Poland has a huge variety of tourist attractions. For nature lovers there is the sea, the mountains, the lakes, national and landscape parks, nature reserves, rivers and forests. Poland has many historical and culture attraction, which belong to the word heritage of culture. These include ancient ruins, monuments, old towns, castles, palaces, churches and museums. Another features that makes Poland an attractive destination for tourist is the many international sports and cultural events, which even by themselves are very attractive. All these attraction have tremendous potential and make people curious to visit new places. For the sports and specialised holidays, which are increasingly popular, Poland offer great facilities for water sports, canoeing, winter sports (such as cross country skiing as well as mountain skiing), cycling, hiking, climbing, horse riding etc. Polish tradition hospitality and openness means that Poland is a friendly country for every visitor and our tourist a ttraction make Poland a good destination for tourists. In 1996 Poland attracted almost 23 million tourists and visitors who spent at least one night in our country (as classified by the Word Tourism Organisation). Many of them were transit visitors but the majorities were day-tripper shoppers. According to central bank’s official cross boarder shopping generated approximately 6,3 billion USD in 1996. The average length of stay of tourist in Poland stands at 4,7 nights per person. Since 1995 foreign visitors have decelerated their main reason for visiting Poland as being relaxation and tourism and spent around $ 8,4 billion. In terms of revenue from tourism Poland holds 14th position in the world. Around 10 million Poles over 15 years old went on holiday in 1996. The majority of domestic travels stayed in private accommodation. The average Polish tourist spent 9,2 nights abroad, half of this number organised their trips individually. Most popular were trips to the neighbouring countries. Around $ 2,5 billion spent by Poles abroad i n 1996. The tourism industry is comprised of services rendered by travel agents and hotels. In practice its revenue is made up both directly (by transport companies, the catering industry, and telecommunications) as well as indirectly by companies from many sectors of economy. The latter group includes furniture manufactures, house building services, the food industry and agriculture. According to assessment of Polish Chamber of Tourism, there is room for between 8000 to 10000 travel agents on the Polish market. Approximately a third of services rendered by travel agents by major tour operators as Orbis, PTTK, Gromada and others. The Polish market ha not created a major tourist company which could operate on a European scale. A few foreign companies have invested in the hotel business in Poland by building luxury hotels in the largest Poland cities (examples include the Marriott, the Holiday Inn). This sector is expected to grow rapidly. The largest owner of hotels in Poland is Orbis also being the largest Polish travel agent. Its network includes 53 hotels, all situated in attractive location. Poland is likely to at least maintain its current position on the global tourism market, providing the more expenditure for the development of tourism infrastructure, improving its quality and increasing on promotion. Business in Poland For several years now, Poland has been arousing interest as an attractive place for investment and commerce. The private sector is currently experiencing dynamic growth: both home-grown firms basing themselves on their own financial resources and joint ventures launched together with foreign capital, which is entering Poland in increasing amounts. Some 7,000 joint ventures have already been established in Poland, engaged in production, distribution, consultancy and other services. The giants of West European and American manufacturing and commerce are also taking part in the privatisation of Polish industry. Firms already operating in Poland include such household names as Coca Cola, Johnson and Johnson, Ikea, Siemens, Philip Morris, and many others besides. Although this expansion of international commercial activity is affecting the entire country, Warsaw’s status as the national capital makes it the city most frequently visited by foreign businessmen. It is Warsaw which offers easiest access to all manner of legal and economic information, and it is here that we find the headquarters of various Polish business organisations which provide organisational and legal assistance to foreign business partners. In addition to the expert knowledge which is available, those interested in doing business in Poland also have ready access to all necessary technical facilities. Orbis hotels provide professional business centres offering suitable premises, communications facilities, secretarial services and state-of the-art office equipment. Poland has also become an interesting and convenient place for all kinds of meeting, conference, congress and exhibition. All inclusive assistance in arranging the requisite facilities is available from the ORBIS Incoming Tourism Bureau, which has nearly thirty years of experience in this field. The Bureau can boast the successful organisation of hundreds of events involving thousands of participants, and has taken part in organising undertakings of such size as the visits of Pope John Paul II to his homeland. Depending on the number of participants, meetings in Warsaw can be held in the Victoria, Holiday Inn or Novotel hotels, or in the Congress Hall of the Palace of Culture and Science, which seats 2,500. Events can also be arranged in the Holiday Inn in Cracow, the Gdynia Hotel in Gdynia, and in numerous other stately homes and small hotels throughout the length and breadth of Poland. The Orbis Incoming Tourism Bureau is involved in the provision of three types of service: * the organisation of participants’ stay in Poland, including hotel accommodation, transport, short sightseeing excursions, tickets for cultural and artistic events, receptions, special activities, etc.; * the organisation of meetings/conferences, including the co-ordination of programmes and financial budgeting, the hire of halls, the provision of secretarial, technical and interpretation/translation services, the supply of photo-copying equipment and buffet facilities, the preparation of press conferences, etc.; * the organisation of exhibitions, including the hire of display space, the construction and decoration of stands, the provision of technical assistance, advertising, publications, etc. Over the years, the Orbis Incoming Tourism Bureau has earned itself the recognition of many international organisations, including the major agencies of the United Nations and the International Congress and Convention Association. The Polish National Tourist Office (PNTO) in London is succeeding in putting the message across that Poland is the natural choice as a tourist destination. â€Å"Over 217,500 people from the UK visited Poland in 1996. This makes the UK the second most important market after Germany. The rise in the number of tourists from the UK continues unabated. We estimate that by the end of 1997 Poland will receive about one quarter of a million UK visitors†, says Czeslaw Jermanowski, Director of the PNTO. He is aware of the increasing importance of business travel to Poland and promotion of the country’s diverse holiday attractions as a range of products. â€Å"Within two years we have accomplished a lot. Poland is now a more interesting travel destination to the British public†. Since the PNTO launched its London office in 1994 the number of tour operators featuring Poland in their brochures has increased dramatically. In total, more then 86 L1K tour operators have been selling trips to Poland in 1997. Thompson Holidays, one of the major players in British market, includes Warsaw and Krakow City Breaks in its 1997 catalogue, and has planned to extend its offer to include Polish nature resorts – lakes and mountains – in 1998. Jermanowski points out that Warsaw is in fact 2 miles closer to London than Madrid. Poland is also moving up the list of important business venues. He emphasises the Polish governments support for business tourism. Two years ago Polish authorities established a tourist board committee on business travel. It helped to create new facilities for meeting, conferences and a high standard of service for individual business travellers. This year Britain’s prestigious â€Å"Business Travel World† Magazine has once again awarded LOT Polish Airlines the title of † Best Eastern European Business Airline† LOT emerged clear winner in this category; ahead of Lufthansa and British Airways. This year LOT has carried more passengers than ever before. Non-stop London Heathrow – Warsaw flights are being increased from 13 to 16 a week. In addition, April 1997 saw the start of the Manchester-Warsaw air-link, three days a week. There is also a London Gdansk-Krakow service. Travellers arriving from the UK into Warsaw or Krakow find the rest of Poland easily accessible. LOT Polish Airlines maintain regular and seasonal connections with major Polish cities such as Szczecin, Gdansk, Poznan, Wroclaw, Krakow and Rzeszà ¯Ã‚ ¿Ã‚ ½w. â€Å"One part of the Polish tourist infrastructure which has already been developed is Poland’s rail network which is one of the most comprehensive in Europe†, says Jermanowski. The Polish government has recently realised that tourism gives the country a great opportunity. Jermanowski, who was Vice-President of the State Sports and Tourism Administration in Warsaw before coming to London in 1995, was responsible for compiling the government’s tourist development plan and for establishing a world-wide network of national tourist offices. Now tourism is part of Polish economic policy. VAT has been reduced from 22 to 7% on four and five star hotels. Furthermore, tax exemptions of up to 50% for creators of tourist infrastructure have been introduced. The 1990-1996 period has seen the number of hotels in Poland grow by 30% as more and more Polish and foreign chains have taken advantage of the burgeoning tourist industry and favourable tax law. Major chains such as Marriott, Holiday Inn, Radisson, Forte, Intercontinental and Sheraton are all represented in Poland in Addition to the Polish chains of Orbis and Gromada. The range of medium and smaller private hotels is growing fast. â€Å"Poland used to be perceived as very distant, small, grey and underdeveloped country†, says Jermanowski. â€Å"We’ve tried to improve its image. Today, Poland is a modern sophisticated country, with an air of optimism and development. We’ve worked hard to ensure that Poland is unpolluted and environmentally friendly. Our logo – Polska, the natural choice – shows that Poland can offer sandy coastlines, mountains, primeval forest and lake districts, along with cities rich in history and culture†. According to the PNTO’s research, the city-break Polish market is strong. Krakow recorded the highest percentage of travellers, higher then the 26 per cent visiting Warsaw, in the first half of 1997. This reflects the increased ease of access to the â€Å"cultural capital† of Poland, soon to be â€Å"Capital of Culture† in year 2000. Market research shows that Southern Poland, including Zakopane and the Tatra mountains, is a prime destination for LTK travellers. Pomerania and Central-East Poland are the second most popular destinations. The growth in tourist traffic to Poland is being reflected by the increase in the number of operators offering Poland in their brochures and the growth of travel arranged by their agencies. For instance between 1996 and 1997 Peltours turnover has increased by nearly 100 %, Page Moy – 60%, and Wallace Arnold – nearly 50%. â€Å"This indicates increased business opportunities for the UK travel industry†, says Jermanowski. The Polish National Tourist Office in London intends to continue its efforts to promote Poland as an attractive travel destination. Nothing succeeds like success. How to cite How to make a good business?, Papers

The Under Ground Railroad Essays - Slavery In The United States

The Under Ground Railroad The Voyage to the Free Land In America's 19th century, many slaves escaped North by way of the dangerous Underground Railroad to attain freedom. It was the most effective protest against slavery, resulting in many free lives. The term Underground Railroad does not mean underground tunnels, but rather secret routes escaped slaves followed, usually leading them north to Canada; the free land. Thousands of slaves escaped yearly through treacherous conditions to attain their freedom. Not only did the slaves have to be determined and secretive, they had to be strong as well. To defy the Fugitive Slave Act, many abolitionists risked their lives to covertly help hide the runaways, protecting them from bounty hunters. The Underground Railroad was the road the freedom for the blacks, no matter how far they needed to travel, they were determined to reach independence. Most slaves were owned by plantation owners who used them for field and housework. There were many principal objectives for running away: long exhausting hours, malnutrition, beatings, and fear of being parted from loved ones. Most escapees were men whose ages ranged from 16 to 35 years. Many masters offered little or no pay, forcing slaves to live in unhealthy living conditions. As a result, many were determined to run away, but mainly because coloreds hungered for liberation. The Underground Railroad spanned thousands of miles, from Kentucky and Virginia across Ohio and Indiana. In the Northerly direction, it extended from Maryland, across Pennsylvania, into New York, through New England. As a guide, thousands of slaves followed the North Star on clear nights, leading them to their next stop or station. ?Station houses were not merely places for a night's tarrying, but homes where the ill and fatigued might remain and be cared for until strong enough for the onward journey? (James qtd. MacDougall 5). ?On clouded evenings, tree moss, which grew on the north side of tree trunks then served as a guide? (Jones 6). Routes leading from one safe-house to another were called lines. People who helped runaways were known as conductors. ?Isaac Patterson has a cave on his place where the fugitives were secreted and fed two or three weeks at a time until the hunt for them was over. The friends, in covered wagons would take them to Sandusky, Ohio. The largest number ta ken was seven? (Jones qtd. Blessingame 8). In the decade before the Civil War, approximately 70,000 slaves safely escaped to Canada. The average distance traveled by an escaped slave in one night was about ten to fifteen miles. The further the slave reached north, the shorter the distance it was to reach the next station. Most blacks escaped on weekends; holidays; or harvest season, allowing them more time not to be discovered. To evade capture, fugitives depended on back roads, waterways, mountains, swamps, forests, and fields to escape. In addition, slaves needed to be clever. ?...females dressed up as males and males disguised as females; or fair-skinned African Americans passed as Whites; and others pretended to deliver messages or goods to their masters?(NiiCa qtd. Haskins). By the 1840's, conductors used other means of transportation: wagon, steamboat and trains, in addition some slaves may have been shipped to free states or Canada in boxes. However, escape routes were not just confined to the North, but also stretched to western territories, Mexico, and the Caribbean. Thousands of abolitionists defied the Fugitive Slave Act by helping free slaves through he Underground Railroad. This law states that the South should accept California as a free state and allow prohibition of slave trade in the District of Columbia. While the stringent laws of the Fugitive Slave Act were being enforced and the institution of slavery continued unabated, many abolitionists assisted escaped slaves regardless of the consequences. These abolitionists, who were primarily composed of Quakers, ex-slaves and other liberal thinking citizens, helped establish...the Underground Railroad (Beigel 3). The Men and women would shelter frightened escapees for lengths of time to protect them from merciless bounty hunters. Usually the success of the runaway's excursions relied upon the willingness of other slaves to give the refugee assistance. Sometimes, Africa Americans and white abolitionists worked conjointly to help a fugitive. Black denizens risked fines and incarceration as they became